Ben Galbreath
There are at least 1.4 million Lyft drivers in North America, according to the most recent estimates. If you're planning to become one of them and hit the road for Lyft, you need to have the right insurance coverage. Insurance.com interviewed producer Ben Galbreath to discuss what you need to know about Lyft's insurance and how to make sure you're completely covered as a driver.
Your personal auto insurance only covers your vehicle’s personal use—not commercial activities that earn you money.
"Your personal auto policy is not written to handle the exposure of commercial operations in regards to driving an individual for pay. Not to mention the amount of liability limits are limited," commented Galbreath.
Galbreath says if you're driving for a rideshare company, you should have enough coverage to protect your assets. This includes not only your car, but your home, investments and anything else of value that could be at risk if you were involved in an accident and were found liable.
He recommends "at least $1 million of liability coverage, higher medical payment options and third-party liability coverage," which will take the pressure off your personal auto policy.
Continue reading the full article.
Questions about Lyft, rideshare or auto insurance? Contact Wallace & Turner at (937) 324-8492 in Springfield, (937) 652-8492 in Urbana, or info@wtins.com.